If you want to buy a car or house, open a bank account, or get a job, you need a Social Security number. An Employer Identification Number (EIN) is like that—but for your business. Many businesses need an EIN to operate. And if your business is one of them, you must know how to apply […]
Read More Your Step-by-step Guide on How to Apply for EIN—aka Employer Identification Number
Author:
Michele Bossart
Sep 23, 2020
The Basics of Payroll Tax Withholding
When you have employees, you are responsible for paying them—but not before taking out some money for payroll taxes. The IRS, Social Security Administration (SSA), and state and locality (if applicable) all require payroll tax withholding.
Read More The Basics of Payroll Tax WithholdingJul 29, 2020
How to Calculate Local Income Tax in 6 Simple Steps
As an employer, you’re responsible for withholding certain taxes from employees’ wages. One of the taxes you may need to withhold is local income tax. Read on to get the scoop on this tax, and learn how to calculate local income tax.
Read More How to Calculate Local Income Tax in 6 Simple StepsJul 28, 2020
What Is a Private Letter Ruling from the IRS?
Do you have questions about your tax situation that nobody can seem to answer? If so, you may need a private letter ruling from the IRS. What exactly is it, and how do you get it?
Read More What Is a Private Letter Ruling from the IRS?Jul 23, 2020
What Is an IPO? The Process of Going Public
If your business is private, at some point or another you may consider going public. When you go public, you go through an IPO process. So, what is an IPO? Read on to learn the ins and outs of an IPO, what the process entails, and the pros and cons of going public.
Read More What Is an IPO? The Process of Going PublicJul 09, 2020
What are the Pros and Cons of Incorporating a Business?
At some point or another, you may decide to incorporate your company. Like many things in business, incorporation has its advantages and disadvantages. Read on to learn the pros and cons of incorporating a business to determine if it’s a good fit for your company.
Read More What are the Pros and Cons of Incorporating a Business?Jun 09, 2020
What Are Business Expenses?
Expenses. We can’t escape them. But with careful attention, you can use them to reduce your tax liability. When you know what business expenses to deduct, you’ll be certain you’re paying no more than needed. So, without further ado, what are business expenses?
Read More What Are Business Expenses?Jun 03, 2020
What Is State Income Tax?
As an employer, withholding taxes from employee wages is all part of the job. In addition to federal income tax withholding, you may also need to handle state income tax withholding. Unlike federal income tax, state income tax rules and rates vary by state. So, what is state income tax?
Read More What Is State Income Tax?May 07, 2020
What Is Earned Income?
When you own or work for a business, you receive earned income. But, not all income is earned income. Both business owners and employees should understand what is earned income to determine tax liability and tax credit eligibility.
Read More What Is Earned Income?Apr 23, 2020
Patriot Software Seeks Strategic Partner for Accounting & Payroll SaaS
Canton, OH Patriot Software (“PATRIOT”), a SaaS provider of online accounting software and payroll for tens of thousands of American businesses, is evaluating its options for long-term strategic partnerships.
Read More Patriot Software Seeks Strategic Partner for Accounting & Payroll SaaS